Infotech Enterprises rebrands itself as Cyient
Infotech Enterprises has rebranded itself as Cyient Ltd, positioning the Hyderabad-based firm as a “distinctively unique global” company.
“We are now Cyient. This new brand identity is an important step in positioning us as a distinctively unique global company that represents our vision and our forward-looking initiatives,” its Executive Chairman and founder BVR Mohan Reddy said in a statement.
The company, which reported a 17.8 per cent increase in 2013-14 revenue, recently named Krishna Bodanapu (formerly President and COO) as its Chief Executive Officer and Managing Director.
“As we began discussing changes to Infotech’s brand, our goal was to further establish the company’s identity as the industry leader we have become over the last 20 years. We originally intended to simply update our brand identity,” Mr. Reddy said.
He added that the new name would help to better define the company’s evolution, current scope of capabilities and accomplishments as well as signal future growth plans to all stakeholders.
“We decided on a constructed word that implies both the type of solutions we develop and also recognises our company history, heritage and the values we will carry forward. Cyient has connotations to the words ‘client’ and ‘science’ — two important components in our company’s success,” Mr. Bodanapu said.
The ‘ient’ references Infotech Enterprises, he added.
“All of our efforts in this important initiative were developed to fulfil our vision of ‘Designing Tomorrow Together’,” Mr. Bodanapu said.
Since its founding as Infotech Enterprises in 1991, the company has become a global leader in engineering, networks and operations.
Cyient has more than 12,000 associates across 38 global locations. Its clients include major aerospace, manufacturing, transportation, utilities and communications companies.
Elements of the Cyient brand, including a new logo, website and marketing materials, have been developed in partnership with global brand agency Wolff Olins.
The BSE-listed firm had registered over 15 per cent growth in annual net profit for 2013-14 at Rs 266 crore, while revenues were up 17.8 per cent to Rs 2,206.4 crore from the previous fiscal.
Shares of the company were trading marginally lower at Rs 310.5 apiece on the BSE.